Council to push ahead with CBD special rate

THE City of Greater Geelong has put the wheels in motion to reintroduce the special rate charged to businesses in Geelong’s CBD, but will first seek feedback from commercial and business property owners.

The existing Central Geelong Marketing (CGM) Special Rate is coming to the end of its fifth and final year of its present cycle.

The Special Rate – set on the capital improved value of non-residential properties – funds the operation of the CGM office, marketing, promotion and advertising initiatives, the provision of business information, business training and networking, events and activities in the CBD.

Central Geelong properties and businesses have mixed attitudes about CGM’s services, with some saying the city should pay for them.
According to a survey ahead of the declaration of the 2016-2021 rate, 93 per cent of businesses agreed there was a benefit to having a collective approach to marketing central Geelong.

However, only 44 per cent thought the Special Rate paying for CGM’s activities were good value, with 50 per cent unsure.

An independent report commissioned by the city found the CGM’s five flagship promotional activities in 2019 generated $58.50 for every dollar spent.

At their meeting last week, the council resolved to declare its intention to declare the rate from July 1 to June 30, 2026, with properties and businesses to pay an average of $14.83 per week over 2021/2022. The rate applied to 1,477 businesses across Central Geelong in 2020/2021, with the program generating $1,139,605 from the Special Rate, as well as other minor income from other sources.

The council will consider any submissions about the Special Rate at a hearing proposed for March 19, with a final report expected to come before the council on April 27.

Cr Peter Murrihy, who chairs CGM, said the organisation had provided high-quality business support and promotion over the past 20 years.

“We invite central Geelong commercial and business property owners to provide submissions regarding their preferences and ideas for marketing and promotion that would best support their needs,” Cr Murrihy said.